IFRS®: Inventories (IAS 2); Property, Plant and Equipment (IAS 16); and Borrowing Costs (IAS 23)
IAS 2, Inventories, IAS 16, Property, Plant and Equipment, and IAS 23, Borrowing Costs guidelines are covered to give you insight into how assets and costs are accounted for under IFRS® Standards.
Format
Online
NASBA Field of Study
Accounting
Level
Basic
CPE Credits
1.5
Author(s)
AICPA and CIMA staff, Helen Kerrigan
Availability
1 year
Product Number
IFRSCERTD25SSO
Understanding the relationship between inventories and borrowing costs
You'll learn how to confidently apply IAS 2, Inventories, IAS 16, Property, Plant and Equipment, and IAS 23, Borrowing Costs by understanding the fundamental principles of these international accounting standards.
You'll examine key concepts, including:
- Definitions and exclusions
- Measurement methods and cost formulas
- Capitalization of borrowing costs
Acquiring this information will empower you to work effectively with multinational organizations and better assist clients using international accounting standards.
Why IFRS is relevant to you
Many of the world's largest capital markets require or permit the use of IFRS Standards.
Whatever your location, you could easily find yourself with a client subject to IFRS requirements.
Understanding IFRS requirements will help you better assist clients subject to these standards and enable you to effectively compete in the modern business world.
Realistic scenarios to increase understanding
The interactive learning elements and real-life examples will help you implement the key concepts you learn in this course. The real-world case studies in this course will help you apply IAS 2, IAS 16, and IAS 23 in practice.
This course is part of the IFRS Certificate Program — a comprehensive, integrated curriculum that will give you the foundational training, knowledge, and practical guidance in international accounting standards necessary in today's global business environment.
Who Will Benefit
- Accounting and finance professionals who work for private or public multinational organizations that have adopted IFRS standards.
- Accountants in public practice who provide audit or assurance services to private or public multinational organizations that have adopted IFRS standards.
Key Topics
- Inventory definition and exclusions
- Measurement methods and cost formulas
- Write-downs to net realizable value
- Property, plant, and equipment (PPE) definition and exclusions
- PPE recognition and measurement of PPE
- Impairment
- Capitalization of borrowing
Learning Outcomes
- Identify the accounting treatment for inventories under IAS 2, Inventories, including guidance related to measurement, cost formulas, and carrying amounts.
- Recall the appropriate accounting treatment for the initial and subsequent measurement of property, plant, or equipment (PPE) under IAS 16,* Property, Plant and Equipment*.
- Identify the guidelines related to accounting for borrowing costs under IAS 23, Borrowing Costs.
- Recognize the disclosures required by IAS 16 and IAS 23.
Group ordering for your team
2 to 5 registrants
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